Overview:The annual budgeting process is often criticized as a fiscal exercise done by the accountants that is obsolete soon after it is published, prone to gamesmanship, cumbersome, not being volume sensitive, and disconnected from the strategy and needed risk mitigation spending. You can resolve these deficiencies using capacity-sensitive driver-based expense projections. Driver-based budgeting allows for quick scenario planning and far easier analysis of a growing organization whose future may look nothing like today. The budget can be periodically refreshed to create rolling financial forecasts extending beyond the fiscal year end. Learn how managerial accounting can become managerial economics.
This event may be a rebroadcast of a live event and the instructor will be available to answer your questions either during or after the event.
Major Subjects:The shift to "predictive accounting” for Decision Making, Planning, and Budgeting
- Problems and deficiencies with the traditional annual budget process
- How to develop a driver-based “operational budget” based on resource capacity planning
- Classify resource capacities and their expenses as sunk, fixed, step-fixed, and variable
- Create closed loop capacity plans
- Demand forecasting for budgeting and rolling financial forecasts
- Use probable scenario planning.
Objective:Understand how to create driver-based budgets and rolling financial forecasts
Designed For:CFOs, Controllers and other corporate financial professionals
Prerequisites:Some budgeting experience helpful
Vendor:CPA Crossings, LLC
Member/Nonmember Fees:64 / 92
CPE:Accounting 1.5 hour(s)
Yellow Book Credit:No
Gary Cokins, MBS, CPIM
CPA Crossings, LLC
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